SRINAGAR: Setting at rest all speculations regarding the new industrial policy, Minister of Finance Haseeb Drabu today said the changes in the Policy announced in the budget will be notified after the Budget is passed by the House.
The Finance Minister said an SRO will be issued to notify all the changes listed in the Budget speech, in particular for amendment of the Section in the industrial policy approved during the Governor’s rule. Industrial associations and other stakeholders had expressed reservations about this particular section of the policy.
“Nobody should have any misconception about J&K’s special status by the New Industrial Policy. It has been reiterated both in the Governor’s address and the Budget speech that all policies, industrial and others, will be in line with the special status of the State,” Dr Drabu said while making a statement on the issue in the Legislative Assembly today.
The Minister quoted from the relevant paras of the Governor’s Address and the Budget speech for 2016-17, wherein it has been amply made clear that the implementation of the New Industrial Policy would be in tune with the existing administrative practices, regulatory norms and the constitutional provisions of the State constitution.
“The provision regarding non state subjects being allowed to develop new industrial estates has been put on hold and the changes in it will be notified as soon as the budget is passed,” he said, adding that any modifications in these clauses would be notified through an SRO after the ongoing Budget Session of the State. (AGENCIES)
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